Does any one knows how to configure the Resetting of Release Strategy when the PO value/amount is reduced? We are in 4.6C, is it standard or are there any settings or transaction code?
Use release indicator '4' or '6" during designing of release strategy.
If you want PO release strategy should trigger for reduced value ,then you can for User exit OR modify standard function module which help to reset existing release strategy for reduced/increased and/or values.
For more check the SAP note:493900